When you are considering where to open a company in Europe, and you are planning operational costs, you should take into account the salaries you will have to pay to your employees. Hungary has a special place on the European job market, because thanks to its top-quality universities and relatively low living costs it provides affordable, quality workforce to your new European company.
Hungary has several of the top-quality universities of the Central European region. The most prestigious ones have diverse programmes in all fields including engineering, business management, IT and medical studies. In addition to the highly qualified Hungarian graduates, they also have a significant foreign student body. As a result, it is easy to find top talent in any specialisation in Budapest.
Since having two foreign language certificates is compulsory for obtaining a university degree, typical Hungarian graduates speak good English and one or more additional European languages.
The cost of living in Hungary is much cheaper than in Western Europe. Housing and services are especially affordable in comparison. Consequently, typical salaries are also much lower than in the western region of the European job market. This means that you can afford to hire highly qualified employees for less, but still give them a salary they can live on comfortably in Hungary.
The typical net monthly salary in Budapest is around 120 000 HUF, equivalent to 400 EUR. This, however, only applies to jobs that do not require any language skills or special qualifications. An English-speaking personal assistant’s net salary is around 180 000 HUF (600 EUR). An entry-level sales associate or account manager will earn about 240 000 HUF (800 EUR), while a senior manager can expect to get a net salary of 400-500 000 HUF (1300-1700 EUR). A software developer’s starting net salary is 300 000 HUF (1000 EUR), but the experienced developers may receive up to 500 000 or even 1 million HUF (1600-3200 EUR), depending on the tasks and the position. Waiters and kitchen staff can expect to make around 90 000 HUF (300 EUR).
There are several additional advantages to setting up a Hungarian company. The corporate tax rate is the lowest in Europe, only 9%. You get an EU VAT number automatically. Plus, the incorporation procedure itself only takes 4-5 business days from signing the articles of association. Contact us for a personalised quote today.
Contact us
According to a new proposal, digital companies where more than 60% of the employees are third-country nationals could enjoy significant tax benefits.
Read More
Learn about all the holidays and special days when your business is supposed to be closed, or when special wage supplements need to be provided to employees working on these occasions.
Read More
© 2004 – 2019